RANCHO CUCAMONGA, Calif. -- The increased bank consolidation that has flowed from the recent market tribulations will make it much more important that credit unions adopt more cooperative strategies, including shared branching, according to the CEO of CO-OP Financial Services Stan Hollen.
"I expect there will likely be as stronger push among even the larger credit unions to participate in shared branching," Hollen said, pointing out that credit unions will need to cooperate more in order to compete with the some of the large branch networks which will emerge out of the recent bank mergers.
CO-OP Financial Services is the parent CUSO of both the CO-OP Network of surcharge free ATMs and CO-OP Shared Branching.
Shared branching and participating in large cooperative ATM networks gives credit unions a chance to compete with, and best, some of the larger names in the industry, Hollen said.
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